We recently advised our client in relation to a pre-pack purchase of the business and assets of a construction company that had gone into administration.
The team was involved in the transaction from the initial stages, conducting a thorough review and mark up of the Heads of Terms. As the target company was in administration, we were required to undertake complex negotiations with the Administrators in regard to the asset purchase agreement, ensuring the agreement was drafted on the most favourable terms possible for our client, whilst at the same time balancing the requirements of the administrators.
The team also had to respond to a tight transaction timetable, which required us to advise and deal with the transaction in a matter of days, as is the case for pre-pack situations where the seller is in financial distress.
The transaction team at Thomson Snell & Passmore was led by Senior Associate, Faye Cook. Ben Stepney, Senior Associate, advised on the Employment aspects of the deal. Alex Lewsley, Partner, advised on the Commercial Property aspects.
If you would like further information in relation to Mergers and Acquisitions, please contact Partner and Head of Corporate & Commercial, Joanne Gallagher.